Two medical device makers are preparing initial public offerings for the coming weeks, breaking up a spree of biotech IPOs that have dominated the market.

Exo-suit maker ReWalk Robotics this week boosted its max IPO price to $61.6 million, now planning to offer nearly 3.4 million shares at $14-$16 apiece. At the mid-range, the offering would raise about $50.3 million for the company which recently FDA approval for the 1st robotic exo-suit for helping patients with lower-body paralysis walk upright.

ReWalk had previously priced its IPO at a max of $57.5 million. The company will trade on the Nasdaq exchange under the symbol RWLK.

ReWalk’s namesake robotic exoskeleton helps people with paraplegia restore self-initiated walking. The company has a rehabilitation model for use in clinics and the newly approved personal model indicated for all-day use. The personal system is battery-powered and features an array of sensors and motors that detect the wearer’s movement and assist in standing up, sitting down, and upright walking.

ReWalk plans to use the proceeds from its IPO to pay for general corporate activities, including sales and marketing for its flagship system and for efforts to pursue new indications and new models. The company also indicated that it may be looking to acquire or invest in complementary technologies.

NeuroSigma also registered an IPO this month, hoping to raise as much as $50 million for its epilepsy treatment devices. The company’s non-invasive eTNS (external trigeminal nerve stimulation) system generates an electrical pulse which is transmitted to the patient through the skin via a patch attached to the forehead. The pulse targets the largest cranial nerve and PET scans show that this stimulus targets regions affected by epilepsy.

The device is not yet approved for use in the U.S., but is already on shelves in Europe, Australia and Canada. The company’s European approval also includes treatment of major depressive disorder. NeuroSigma hopes to win approval to treat both epilepsy and depression in the U.S.

NeuroSigma detailed its plan for use of the IPO proceeds as follows:

• under $10.0 million to fund the pivotal trial of our eTNS system as adjunctive treatment for DRE in support of FDA approval;
• approximately $7.0 million to build out our sales, marketing and medical affairs functions;
• approximately $3.0 million to develop our wire-free second generation eTNS system;
• approximately $6.0 million to advance clinical studies of our eTNS system for neuropsychiatric indications;
• approximately $2.0 million to fund observational trials outside the United States and accumulate health economics and quality-of-life data to facilitate reimbursement;
• approximately $6.1 million to repay the aggregate principal amount and related interest on certain promissory notes including $2.4 million that will automatically become due upon the closing of this offering; and
• the remainder for working capital and other general corporate purposes.

The company added that it may look to acquire or invest in other businesses and technologies that complement its portfolio.